JFF comments on the demise of Wonga

Canon Paul Hackwood, Executive Director of Church Urban Fund and Trustee of Just Finance Foundation:

‘Today we are seeing the result of the much-needed tougher financial regulations starting to bite.

It is edifying to see a shift as we seek to influence and reshape both national and local structures and systems to better reflect the needs and interests of low-income households. We will continue to encourage the use of credit unions and other responsible finance providers as the start of a fairer solution that we want to see grow over time.

The Just Finance Foundation (JFF) - the Archbishop’s charity focused on fostering a fair financial system – is working to promote financial health, of the many struggling with debt right across the social spectrum, and particularly among those for whom making ends meet is a daily struggle.’